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Cabot financial Belgard solicitors

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24

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    #32
    yosser hughes
    Registered Users Posts: 3,880 ✭✭✭yosser hughes


    nickys wrote: »
    I havent done anything yet with it. But received another letter this morning signed belgstd sols no name. Offering me a settlement of 400 euro less than i owe.
    It depends on your situation, only you know that.
    So how much is it now €1200? Either make a counter offer or pay it and move on with your life.

    edit: Just to add to that.Make absolutely sure, in writing, if you agree to an offer; that it is full and final settlement of the debt owed and that this explicitly stated in their correspondence to you. Make sure you keep all correspondence from them and copy any correspondence you send to them in turn.


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    #33
    nickys
    Registered Users Posts: 130 ✭✭nickys


    Got my icb report andnita says about tje credit card on it. Its due to be removed on december 2018 it says.


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    #34
    yosser hughes
    Registered Users Posts: 3,880 ✭✭✭yosser hughes


    nickys wrote: »
    Got my icb report andnita says about tje credit card on it. Its due to be removed on december 2018 it says.

    Well that's good. It still won't make the debt go away though.
    Bear in mind,there is a new debt reporting model now. It is the central credit register. This is separate to the ICB. You may want to check that out too.


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    #35
    Conman88
    Registered Users Posts: 1 ✭Conman88


    Hi everyone, just came across this thread, some useful info.
    I have a problem. I recently applied for a loan with my credit union(never had a problem before, only got one in March this year). My loan was refused, they had asked what was an outstanding overdraft on my CCR report of €953. I had no clue. I’ve never had an overdraft in my life. So I applied for my report and on it is an overdraft for Cabot financial for €953. It says started on 2010. I remember getting a phone call many years ago from them saying I owed them this money for an outstanding over draft with the ulster bank. I informed them that I never had an overdraft with the ulster bank and would they forward me on any information in relation to this. Signed documents and all, they refused to give me any information so I said I am not paying them until I receive this information. I have heard nothing of it since until I applied for my loan. Now this is on my report. Any ideas of how to go about getting this removed?
    Only thing that comes to mind of why I would owe money is because I had an account in the ulster bank when they had that big crash a few years ago and there was a problem but I had switched from that bank.


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    #36
    TimeShare
    Registered Users Posts: 4 ✭TimeShare


    Never deal with these people by phone, they will harass you with calls. Their refusal to deal with people by email is tactical and based on entirely spurious 'data protection' grounds. How do they know the person they're talking to on a phone is the person they allege owes the debt?
    If they are harassing and threatening you on false grounds make an immediate complaint to the appropriate regulator - this may relate to the source of the original 'debt'.
    One other tactic in these instances is to invoice their accounts department for your time dealing with their false claim.
    They were after me for an out of contract payment on a discontinued service - a fishing exercise.


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    #37
    alig1234
    Registered Users Posts: 29 ✭alig1234


    Hi there what an awful situation this is extortion pure and simple. I suggest you do a letter to Cabot saying under GDPR you require them to rectify the personal data they have on you as is your right under GDPR, and correct the ICB record within 31 days. Tel them they y should 'cease and desist and refer the matter back to Ulster Bank immediately or you will be bringing a complaint to the Data Protection Commissioner and the Financial Services Regulator. When you receive their reply give a copy to your credit union. Happy to help if you need me to just send me a PM. This nonsense has to be dealt with.


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    #38
    Shelmalier
    Registered Users Posts: 31 ✭Shelmalier


    Hi, just reading info. here on Cabot / Belgard who I've just received a letter from. Thanks to everyone who's contributed. It's very useful to get some background info. I was about to call them but based on what I've read here I've now decided not to. I'd welcome any advice on whether it's worth having someone deal with the case on my behalf. Either a solicitor who has experience of Cabot / Belgard or a Financial Advisor? I'd welcome any view. The loan in question is sevens years old. Thanks.


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    #39
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    Hi Shelmalier, If the debt hasn't been paid for over 6 years, that means it is statute barred, or unenforceable. That doesn't mean they can't pursue it, just that if they took you to court, your defense would be, along with other things, the debt is statute barred. You could write to them asking for any and all information they have relating to you and the Alleged debt. There's nothing a solicitor or anyone else can do, that you can't do in relation to this debt.
    Just remember at all times, communicate in writing with Cabot/Belgard, they are not your friend, they do not have your interests at heart. Basically they are scumbags masquerading as legitimate debt collectors!


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    #40
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,045 Mod ✭✭✭✭Jim2007


    Wasphead wrote: »
    Hi Shelmalier, If the debt hasn't been paid for over 6 years, that means it is statute barred, or unenforceable.

    Wrong from a legal point of view. The absence of of payments in no way makes a debt statute barred.

    OP - best seek proper legal advice.


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    #41
    yosser hughes
    Registered Users Posts: 3,880 ✭✭✭yosser hughes


    First of all, Cabot/Belgard are not 'masquerading' as debt collectors, they are debt collectors.
    Secondly, you need to engage, as this will not go away. My advice posted earlier in this thread, is the same today. Deal with this head on and avoid the stress. Because it will be stress and they will not give up or stop trying to contact and pressure you. That's their job.
    yosser hughes wrote: »
    My advice is to try to come to a settlement with them, otherwise you're in for months and maybe years of stress and constant back and forth.
    Engage with them only in writing, keep copies of everything and send them registered letters.
    They will settle but will try and get as much as they can.
    Don't enter an installment plan if you can help it.

    You can delay and obfuscate; but get it sorted for your own sake; the sooner you can get on with your life.


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    #42
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    Jim2007 wrote: »
    Wrong from a legal point of view. The absence of of payments in no way makes a debt statute barred.

    OP - best seek proper legal advice.


    What does statute barred mean?
    A debt will be deemed statute barred after a set period of time (defined by the type of debt, most commonly 6 years) if the following takes place:
    • The creditor has not already taken court action
    • No payments have been made in relation to the debt within the set time period
    • No acknowledgement has been made by the borrower to the lender that they owe them money within the set time period
    If any of these events were to occur, the time before the debt becomes statute barred is reset. A lender can still continue to pursue an outstanding balance once a debt is considered statute barred, but not through the courts. This in in accordance with the Limitation Act 1980 which provides timescales within which certain actions may be taken to recover outstanding sums.
    Are debts really written off after 6 years?
    After six years have passed, your debt may be declared statute barred - this means that the debt still very much exists but a CCJ cannot be issued to retrieve the amount owed and the lender cannot go through the courts to chase you for the debt. That is not to say that lenders cannot use other means of retrieving what you owe, with debt collectors often proving a viable option.
    Statute barred status does not apply for every type of debt, and some forms may require a longer waiting period before statute barred can come into effect, so hoping that a debt will become invalid after six years have passed might lead to further issues later.
    The length of time before a debt becomes statute barred will depend on the type of debt; the six year period set out by the Limitation Act refers mostly to unsecured debts such as a personal loan. Outstanding mortgage payments have a twelve year recovery period but tax, duty or related interest payments do not have a time limit for recovery. That means the debt can never become statute barred and a court judgment could be issued at any time.
    As mentioned previously, the ‘start point’ of the 6 year period is determined by the time you last made a payment towards the debt or acknowledged to the creditors that you owe an outstanding debt. That means it’s not a straightforward 6 years since the missed payment, if you have recently been in touch with the lenders to find out how much time remains until the debt is statute barred, that could be enough to start the clock again.
    Additionally, at any time before a default is due to expire a lender may be able to issue a CCJ in an attempt to recover payments. CCJ markers last on your credit file for another 6 years, turning that initial six year wait into 12 years before your credit file no longer has any trace of your outstanding debt.


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    #43
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    yosser hughes wrote: »
    First of all, Cabot/Belgard are not 'masquerading' as debt collectors, they are debt collectors.
    Secondly, you need to engage, as this will not go away. My advice posted earlier in this thread, is the same today. Deal with this head on and avoid the stress. Because it will be stress and they will not give up or stop trying to contact and pressure you. That's their job.


    I let my personal feelings towards these ass wipes get in the way of the fact they are debt collectors. To me they are ass wipes first, debt collectors second. From experience of dealing with them. And I did deal with them head on and found them to be wanting on all levels, particularly on facts. With me they lied, threatened and and engaged in deception. All contrary to the law, namely "The Non fatal Offences against the person Act". For me, they masquerade. And indeed it was stressful and a huge learning curve. I post what I've learned from my dealings with them. What are your own experience's with them?


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    #44
    NORMAN77777
    Registered Users Posts: 3 ✭NORMAN77777


    Cabot/Belgard solicitors issued court proceedings to me in Feb this year due to MBNA credit card debit,i got my solicitors to write to them telling them that it was statue barred,received reply today from my solicitor and they have they sent him notice of discontinuance from the district court,that hopefully is the end of this for me.Goodluck to all having to deal with this shower.


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    #45
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    NORMAN77777 wrote: »
    Cabot/Belgard solicitors issued court proceedings to me in Feb this year due to MBNA credit card debit,i got my solicitors to write to them telling them that it was statue barred,received reply today from my solicitor and they have they sent him notice of discontinuance from the district court,that hopefully is the end of this for me.Goodluck to all having to deal with this shower.


    That's good stuff. I got notice recently that Cabot Assets are selling my alleged debt to Cabot Finance! And apparently I don't have to do anything! Seems I may be in for another raft of bullying and threats and maybe even an actual visit to the courts.


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    #46
    NORMAN77777
    Registered Users Posts: 3 ✭NORMAN77777


    so today i to get a letter from Cabot asset purchases notifying me that they are selling my agreement to Cabot Financial,this letter is dated 29th March and the notice of discontinuance i received yesterday was 25th March,can they do this,what do you reckon there plan is?


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    #47
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    NORMAN77777 wrote: »
    so today i to get a letter from Cabot asset purchases notifying me that they are selling my agreement to Cabot Financial,this letter is dated 29th March and the notice of discontinuance i received yesterday was 25th March,can they do this,what do you reckon there plan is?


    I'm at a loss as to whether they can do this or not. It could be across the board selling of debt they can't or won't pursue through the courts. They may have plans afoot to get going again via some other angle. At this stage I'm beyond caring what they do.


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    #48
    NORMAN77777
    Registered Users Posts: 3 ✭NORMAN77777


    I am to,they can do what they like,i know for a fact my debt is statue barred,no phone calls,payment,no communication with them or anyone from the credit card company since 2011,i was wiped out in the property down turn and this is actually one of my smallest debts.
    Will keep you posted when and if receive any other court stuff from cabot financial,goodluck


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    #49
    irish5er
    Registered Users Posts: 14 ✭irish5er


    Hi
    I too have received a letter saying Cabot Asset transfered“our agreement, letters and all other rights to my account and our Agreement “ on 31May. I had a MBNA cc in 2009 and it was making payments, sold to Avant , more regular payments, visits to Mabs as made redundant in 2010. Debt down to 5000 by time Cabot got it and I offered them 3000 and they refused. Haven’t heard anything for 4 years but just as I get another job this letter. Can they just continue to sell my debt, probably at reduced prices to each other? I don’t have anything to offer atm as struggling with mortgage. Any advice welcomed


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    #50
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,045 Mod ✭✭✭✭Jim2007


    NORMAN77777 wrote: »
    I am to,they can do what they like,i know for a fact my debt is statue barred

    An opinion is not a fact. You may claim that your debt is statute barred, but only a judge can decide that it is in FACT true or not. Now given that your debt was sold, it is fair to assume the legal reviews suggest that it is collectible. Only time will tell if their confusion was correct.


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    #51
    leeald
    Registered Users Posts: 7 ✭leeald


    I am just looking for some advice. I got a loan from GE money 14 years ago. My salary was 22k a year they loaned me 20k within the space of a year. (Stupid of me I know but they gave a credit limit on a loan and topped me up) been older now I realise this was not fair lending practice.

    I continued paying the monthly payment some months €500 to the point I was completely overstretched for 5 years I stopped paying the loan and agreed a monthly payment with GE and got a print out from GE of all the repayments I had made up to that point which I still have.

    I hit a rough patch and could not continue payment . The print out I have totals the actual balance I borrowed so the principal balance was paid back so there is 11k in interest outstanding.

    I was made redundant in 2014 and contacted Cabot and offered 50% aettlement of remaining interest balance the guy on the phone was a bully I basically came off the phone stressed and upset he belittled me the whole time. I asked for letter stating my offer for settlement declined and never got this. I was been pro active by trying to get it sorted so I decided I would not entertain anyone from their company again.

    I recieved 1 or 2 letters since that point from Cabot but ignored them , Fast Foward to present day got a letter today out of the blue from Belgard Solicitors demanding full balance within 7 days or will issue legal proceedings so just wondering is this a holding letter or to extend the statue limitations it is bound to be nearly up. I am in no position to pay it back and certainly do not want the stress or anxiety dealing with belgard/Cabot. I am looking for any genuine advice what do I do from here ?

    Thank you

    Lee


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    #52
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    Hi Lee, Belgard Solictors are the legal wing of Cabot, so they're just putting the squeeze on you to get you back to paying some money. Worst case scenario is they take you to court and get a judgement against you. That means the court will decide based on your means how much you should pay back.
    This doesn't seem to be what Cabot want though, as they have issued a "claim notice" against me in the past to which I gave "notice to defend" and they never sought a court date.
    Cabot have since sold this debt to "you guessed it" Cabot, the newly regulated Cabot that is. So this may be why they've restarted the letters.
    Bottom line, if you don't have the money, there's not a lot they can do, other than keep threatening you with court and whatever else they can come up with.
    Don't contact them by phone! Letters only.
    Request all information relating to the debt without acknowledging it, up to and especially the "Deed of Assignment". Also look at the possibility of the debt being statute barred. If it goes to court you could ask the judge to declare the debt statute barred if its over 6 years. That's not to say the judge will declare it barred but it would be part of a defence, among other things.
    Don't let it bother you too much, very very worst case for you or anyone in your position is the courts take control of the debt payment structure, which also allows you to apply for variations if you can't afford what the court decides.
    Get your head around that worst case situation and all of a sudden the threats from Belgard and Cabot are deflated to the level of the ink on the paper.
    I can only offer advice based on my own experience of dealing with these, lets call them reprobates.


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    #53
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,045 Mod ✭✭✭✭Jim2007


    Wasphead wrote: »
    Don't contact them by phone! Letters only.
    Request all information relating to the debt without acknowledging it, up to and especially the "Deed of Assignment". Also look at the possibility of the debt being statute barred.

    If that debt was indeed statute barred, then such a request would most likely be considered by the courts to reset the clock.


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    #54
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    I'm not so sure that requesting more information about an unsolicited request for payment would constitute acknowledging the debt. Have you ever heard of such a thing happening? As you know, stranger things have happened!


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    #55
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    Be very careful thinking that because the debt is six years old, then it's statute barred.

    A lot of people with no experience of financial matters will be quick to offer their opinion, usually because of their dislike of debt collectors but rarely it is correct opinion.

    If you made an offer in writing to pay 50% of debt in 2014, then it's not until six years after this that you can apply for it to be statute barred.

    And remember that all that means is they cannot pursue you through the courts, it can stay on their books forevermore if they wish and possibly stay on your credit record too.

    Imo, it's best to employ the services of a financial advisor to negotiate any reasonably sized debt. It might cost €500 or so, but it can take the stress away and probably reduce the amount owing.


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    #56
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,045 Mod ✭✭✭✭Jim2007


    Seeking legal advice like this over the internet is a really bad idea, because you don't know who you are getting it from nor their agenda. And furthermore, we don't know all your circumstances. A few observations
    now I realise this was not fair lending practice

    There is no such thing, you are an adult and society assumes you are capable of dealing with your own affairs. The alternative is to claim incapacity and I doubt you want that.
    so I decided I would not entertain anyone from their company again.

    Just because you decide not to engage with them does not mean that the clock stated running on the debt become statute barred. If they continued to make attempts to contact you then it never started to run...
    so just wondering is this a holding letter or to extend the statue limitations it is bound to be nearly up

    No idea in both cases... we don't know if the statue of limitations is in play or not, that is for the courts to decided. The timing is interesting, but it could also just be your turn.... a couple of summer interns joint the staff and have started to sort through the loan books...

    And again as to the outcome, we don't know all your circumstances - you may think you can't afford to pay, but that does not mean the courts will agree with you... do you have any other assets they could go after: a car for instance? Did anyone go guarantee on the loan for you - a parent perhaps?

    Seek proper legal advice.


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    #57
    leeald
    Registered Users Posts: 7 ✭leeald


    Cheers for your reply I was just wondering from other peoples experiences what was the next step as it is gone off my credit file the last 3 years and absolutely nothing about GE or Cabot on there. I have had a loan (paid in full) a active credit card and a active overdraft since so I thought when gone off credit file it was wrote off as bad debt.


    Obviously I would seek professional legal advice if it does indeed go to court but it was just bit out of the blue was the reason I was looking for some advice.

    I know I am an adult but a bank have to follow their own guidelines "Stability Ability and willingness to pay" before lending so this was the reason I made that statement about irresponsible lending.


    Thank you for your reply I really appreciate it

    Lee


    Jim2007 wrote: »
    Seeking legal
    advice like this over the internet is a really bad idea, because you don't know who you are getting it from nor their agenda. And furthermore, we don't know all your circumstances. A few observations



    There is no such thing, you are an adult and society assumes you are capable of dealing with your own affairs. The alternative is to claim incapacity and I doubt you want that.



    Just because you decide not to engage with them does not mean that the clock stated running on the debt become statute barred. If they continued to make attempts to contact you then it never started to run...



    No idea in both cases... we don't know if the statue of limitations is in play or not, that is for the courts to decided. The timing is interesting, but it could also just be your turn.... a couple of summer interns joint the staff and have started to sort through the loan books...

    And again as to the outcome, we don't know all your circumstances - you may think you can't afford to pay, but that does not mean the courts will agree with you... do you have any other assets they could go after: a car for instance? Did anyone go guarantee on the loan for you - a parent perhaps?

    Seek proper legal advice.


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    #58
    leeald
    Registered Users Posts: 7 ✭leeald


    Thanks a million for the reply. I just kind of got a state of panic when I seen the letter I would certainly like to clear the debt and be done with them but this doesn't look likely for the foreseeable future anyway.


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    #59
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,045 Mod ✭✭✭✭Jim2007


    leeald wrote: »
    I thought when gone off credit file it was wrote off as bad debt.

    Just because a company decides to write off a debt, does not mean that it will not be pursued, it just means that they think it is uncollectible and will claim it as a tax deduction.... It is just an accounting entry.

    They are still entitled to pursue it or sell it on. If they get something out of it then they will simply write it back into the next years accounts.


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    #60
    Hannamay
    Registered Users Posts: 4 ✭Hannamay


    Hi there, have just tuned into this most informative post. I have an outstanding CC debt with Avant who didnt respond to efforts of negotaion - this was a non payment for 3 months due to serious illness and I made numerous attempts to freeze the interest and to pay back by instalments - all five letters to Avant were ignored. They then handed over to Cabot in 2013 and I was subjected to verbal abuse and harrasment I engaed a solicitor to quieten them and above all we then also failed to set out a repayment strategy from my humble offering of €20PM. I have heard nothing since then until now: I have received a correspondence from Belgarde for proof of creditiors recorded at (the amount) outstanding and to provide the office (Belgarde) with the 'information'. I would appreciste some feedback on my tactic as I envisge that the debt is statute barred and that they are tring to get me to acknowledge same and to start the process - am I correct? Will I ignore and if they come back to then begin the 'subject data access process'? Why are they asking me for proof of creditors? I am obliged.


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    #61
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    @hannamay

    You have two options.

    If you can afford to enter a payment plan, then negotiate.

    If you can't, then you could ignore it.

    Statute of limitations is from the last acknowledgement of the debt - be that a payment or a letter, phone call or email accepting the debt exists.

    If last payment was 2013 and you have not written to them or talked to them saying that you will try and make a payment, then that's when the 6 years start.

    But you say you offered €20/month. So the important date is the date you made that offer.

    If that was 2013, then maybe try and string it out and do nothing.

    But chances are it will remain on your credit record.


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